Islamabad, March 01, 2022 (PPI-OT):President and CEO U Microfinance Bank Limited (U Bank) Kabeer Naqvi and President and CEO MCB Bank Limited (MCB) Shoaib Mumtaz signed a Memorandum of Understanding (MOU) of strategic partnership to promote financial inclusion in the country. This collaboration between the institutions will establish a long term, stable and mutually beneficial strategic partnership.
This strategic partnership creates a platform for strengthening U Bank’s capability to provide a comprehensive range of banking services and promote various forms of cooperation including medium to long term Debt Finance, Housing Finance, Microfinance Funding and various other funding options.
Speaking at the occasion, Kabeer Naqvi, President and CEO of U Bank, said, “We are delighted to enter into this partnership with MCB, with whom U Bank has collaborated on number of successful syndications in past years.”
“This partnership will help stimulate U Bank’s financial inclusion agenda and help the underserved segments of the country. Furthermore, this will allow us to create efficient synergies with both entities to design and introduce innovative financing solutions,” he added. President and CEO of MCB, Shoaib Mumtaz, said, “We appreciate our relationship with U Bank and look forward to further strengthening our engagement with them to promote financial inclusion.”
“Facilitating housing credit to low-income segments is a major priority of both the Government and the banking industry and we look forward to working in tandem with industry leaders to deliver quality services and financial solutions to the masses,” he added.
The ceremony was held at MCB Bank’s Head Office with representation by senior management of both institutions. From MCB, Muhammad Nauman Chughtai – Group Head Risk Management Group, Salman Zaidi – Group Head Treasury and FX, Hammad Khalid – Chief Financial Officer, Shahzad Ishaq – Group Head Consumer and Digital Banking, Natasha Ahmed – Head Corporate North, Maziya Hussain – Division Head Marketing and Aqsa Omer Khan – Department Head Corporate Banking attended the ceremony.
Mariam Pervaiz – Chief Commercial Officer and Chief of Staff, Ambreen Malik – Chief Business Officer and Chief Digital Officer, Farooq Kamran – Chief Corporate and Investment Banking, Mohsin Aslam – Head Budgeting Planning and Corporate Finance, Syed Muhammad Omer – Head of Business Analytics, Liabilities and Madiha Latif – Assistant Manager Corporate Finance represented U Bank.
For more information, contact:
Head Office,
U Microfinance Bank Limited (U Bank)
2nd Floor, 13-B, Jinnah Super Market,
F-7, Islamabad, Pakistan
UAN: +92-51-111-182-265
Fax: +92-51-2275923
Email: complaints@ubank.com.pk
Website: http://ubank.com.pk/